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Data-Centric Security Market Worth 5.83 Billion USD by 2022

PUNE, India, December 5, 2017 /PRNewswire/ --

According to a new research report "Data-Centric Security Marketby Component (Solutions (Data Protection, Data Governance, Data Auditing) and Services (Professional and Managed)), Organization Size, Deployment Type, Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market size is expected to grow from USD 2.06 Billion in 2017 to USD 5.83 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 23.1% during the forecast period.

The demand for data-centric security solutions is expected to be majorly driven by the stringent compliances and regulations pertaining to data-centric security. Moreover, data security governance and exploitation of trending technologies such as big data, machine learning, and artificial intelligence are expected to boost the adoption of data-centric security solutions and services among enterprises.

Solutions segment is expected to hold the largest market share during the forecast period

Data-Centric Security solutions audit and protect the data at rest, data in motion, and data in use through various standards and protocols. To reduce the risk posed by hackers, insider threats, and other malicious attacks, and to constantly monitor the activity of sensitive data, enterprises are implementing data-centric security solutions. The solutions protect mission-critical data in disparate silos, such as databases, files, and cloud. Some of the capabilities that a data-centric security solution has are data classification and discovery, privileged access management, policy management, activity monitoring, auditing, and reporting.

The retil vertical is expected to grow at the highest CAGR during the forecast period

The retail vertical is expected to grow at the highest rate during the forecast period, due to the need to audit and protect critical consumer data stored in databases, files, and cloud. The increasing use of mobile devices, which have a direct access link to a customer's confidential information, rise data theft and data loss concerns among retailers. Hence, retailers are adopting comprehensive data-centric security solutions, as data risk is present at all levels, from various transactions to the confidentiality of personal information of customers and employees.

Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period

North America is estimated to have the largest market share in 2017, while APAC is projected to be the fastest growing region at the highest CAGR during the forecast period, as APAC enterprises are deploying data-centric security solutions at a faster rate. Large enterprises and SMEs in APAC realize the significance of data-centric security, and are receptive toward adopting dedicated data-centric security solutions to protect their critical and sensitive business data from commercial espionage, cyber threats, and misuse of data for monetary gains of computer hackers.

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.